In the latest market close, Frontline (FRO) reached $21.16, with a -1.86% movement compared to the previous day. This move lagged the S&P 500's daily gain of 0.29%. On the other hand, the Dow registered a loss of 0.25%, and the technology-centric Nasdaq increased by 0.43%.Heading into today, shares of the shipping company had gained 0.42% over the past month, outpacing the Transportation sector's loss of 2.99% and lagging the S&P 500's gain of 2.08% in that time.The investment community will be paying close ...

In the latest trading session, Frontline (FRO) closed at $22.49, marking a +0.99% move from the previous day. This change outpaced the S&P 500's 0.56% loss on the day. Elsewhere, the Dow saw a downswing of 0.25%, while the tech-heavy Nasdaq depreciated by 0.59%.Shares of the shipping company witnessed a gain of 7.79% over the previous month, beating the performance of the Transportation sector with its loss of 3.94% and the S&P 500's gain of 1.2%.The investment community will be closely monitoring the perfo ...

Key PointsIsrael-based ZIM Shipping shares have risen 36% year-to-date (YTD) despite the Red Sea disruptions from Houthi attacks on shipping vessels.Spot freight rates from China to some European destinations have skyrocketed up to 133%.ZIM Shipping has a 24.79% short interest.5 stocks we like better than ZIM Integrated Shipping ServicesThe Houthi attacks on cargo ships in the Red Sea have caused widespread disruptions and economic ramifications for the transportation sector, with cargo and dry bulk shippin ...

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shaunl Introduction This is my second article on Frontline (NYSE:FRO). It is one of my most significant holdings, and I plan to add even more. The tanker market fundamentals and the Red Sea crisis are strong tailwinds for my thesis. In 3Q23, the company reported a disappointment due to lower day rates 3Q23. The most important is the rise of day rates for Aframax and Suezmax. FRO had contracted for 4Q23 70% of its Aframax and Suezmax ships at 62%/35% higher rates. FRO has a conservative debt repayment sc ...

Frontline plc (the "Company" or "Frontline") (NYSE:FRO) today announced that it has entered into an agreement whereby the Company will sell its five oldest VLCCs, built in 2009 and 2010, for an aggregate net sale price of $290 million. The vessels are expected to be delivered to the new owner during the first quarter of 2024. After repayment of existing debt on the vessels, the transaction is expected to generate net cash proceeds of approximately $207 million, and the Company expects to record a gain in th ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the nine months ended September 30, 2023 Commission File Number: 001-16601 FRONTLINE PLC (Translation of registrant's name into English) John Kennedy, 8 Iris Building, 7th Floor, Flat/Office 740B, 3106, Limassol (Address of principal executive offices) Indicate by check mark whether the registrant files or will file ...

Frontline plc (NYSE:FRO) Q3 2023 Results Conference Call November 30, 2023 9:00 AM ET Company Participants Lars Barstad - CEO Inger Klemp - CFO Conference Call Participants Jon Chappell - Evercore ISI Chris Robertson - Deutsche Bank Omar Nokta - Jefferies Greg Lewis - BTIG Operator Good day and thank you for standing by. Welcome to the Q3 2023 Frontline plc Earnings Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] Please be advised that today’s conference is ...

Management's Discussion and Analysis of Financial Condition and Results of Operations [General Overview and Recent Developments](index=4&type=section&id=General) Frontline completed newbuildings, adjusted its 66-vessel fleet, and is in arbitration regarding the Euronav agreement - As of June 30, 2023, the Company's fleet comprised **66 vessels**, including 65 owned and one commercially managed Aframax tanker[9](index=9&type=chunk)[14](index=14&type=chunk) - In H1 2023, **three vessels were sold** for **$145 million gross proceeds**, yielding **$91.8 million net cash** and a **$22.0 million gain**[10](index=10&type=chunk)[11](index=11&type=chunk) - The company concluded its newbuilding program with the delivery of **two VLCCs** in January 2023[9](index=9&type=chunk) - The combination agreement with Euronav NV was terminated in January 2023, with ongoing arbitration on the merits of the termination[13](index=13&type=chunk)[14](index=14&type=chunk) [Tanker Market Update](index=5&type=section&id=Tanker%20Market%20Update) Global oil consumption and supply increased in H1 2023, with an aging tanker fleet and low orderbook suggesting favorable supply dynamics - Global oil consumption averaged **100.6 million barrels per day (mbpd)** in H1 2023, up from 98.8 mbpd in H1 2022[16](index=16&type=chunk) - The tanker fleet is aging, with **12.2% of VLCCs** and **14% of Suezmax tankers** over 20 years old in 2023, while orderbooks remain low[20](index=20&type=chunk) - The price cap on Russian crude has complicated compliance as Urals prices rise, leading some owners to abandon the Russian trade[18](index=18&type=chunk)[19](index=19&type=chunk) [Results of Operations](index=6&type=section&id=Results%20of%20Operations) Frontline reported significantly increased profitability in H1 2023, driven by higher freight rates despite increased expenses Revenue and Expense Comparison (H1 2023 vs H1 2022) | (in thousands of USD) | 2023 | 2022 | | :--- | :--- | :--- | | **Total revenues** | **1,010,095** | **517,881** | | Voyage charter revenues | 971,049 | 463,195 | | Time charter revenues | 30,908 | 48,451 | | Voyage expenses and commissions | 315,437 | 254,906 | | Ship operating expenses | 87,490 | 84,867 | | Administrative expenses | 24,339 | 15,767 | | Depreciation | 112,642 | 80,780 | - Voyage charter revenues increased by **$507.9 million** due to higher market freight rates and newbuilding deliveries[23](index=23&type=chunk) - Depreciation expense increased primarily due to changing the estimated useful lives of vessels from 25 to **20 years** effective January 1, 2023[35](index=35&type=chunk) - Finance expense increased by **$75.6 million**, mainly due to higher market interest rates and a smaller gain on interest rate swaps[37](index=37&type=chunk) - The company recognized an unrealized loss of **$24.0 million** on marketable securities, primarily from its Euronav shares[41](index=41&type=chunk) [Liquidity and Capital Resources](index=9&type=section&id=Liquidity%20and%20Capital%20Resources) Frontline's liquidity strengthened in H1 2023 with increased cash from operations, significant debt activities, and dividend payments Cash and Liquidity Position | (in millions of USD) | June 30, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | Cash and cash equivalents | 306.8 | 254.6 | Cash Flow Summary (Six months ended June 30) | (in millions of USD) | 2023 | 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | 553.2 | 91.7 | | Net cash used in investing activities | (9.1) | (89.6) | | Net cash used in financing activities | (491.7) | 4.6 (provided) | - Financing activities in H1 2023 included **$259.4 million** in debt drawdowns, **$356.6 million** in debt repayments, and **$394.0 million** in cash dividend payments[64](index=64&type=chunk) - The company transitioned **$1,788.4 million** of its loan agreements from LIBOR to SOFR due to LIBOR's discontinuance[57](index=57&type=chunk) - Estimated average daily cash break-even TCE rates for the remainder of 2023 are approximately **$27,000 for VLCCs**, **$23,400 for Suezmax tankers**, and **$16,600 for LR2/Aframax tankers**[62](index=62&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=12&type=section&id=Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) Frontline manages interest rate, foreign currency, and equity price risks, utilizing interest rate swaps to mitigate floating-rate debt exposure - The company is exposed to interest rate risk on **$1,689.8 million** of variable-rate debt, where a one percentage point increase would raise annual interest expense by approximately **$16.9 million**[69](index=69&type=chunk) - Interest rate swaps are used to minimize floating-rate debt risks, with an aggregate fair value asset of **$52.7 million** as of June 30, 2023[73](index=73&type=chunk) - Exposure to equity price risk arises from marketable securities held at fair value through profit or loss[72](index=72&type=chunk) - The company faces transaction and translation risk from subsidiaries reporting in British pounds, Norwegian kroner, or Singapore dollars, despite most transactions being in U.S. dollars[70](index=70&type=chunk) Unaudited Condensed Consolidated Interim Financial Statements [Condensed Consolidated Statements of Profit or Loss](index=17&type=section&id=Condensed%20Consolidated%20Statements%20of%20Profit%20or%20Loss) Frontline reported a significant profit increase to $430.3 million in H1 2023, driven by nearly doubled revenues Consolidated Profit or Loss (Six months ended June 30) | (in thousands of USD) | 2023 | 2022 | | :--- | :--- | :--- | | Total revenues and other operating income | 1,033,775 | 523,526 | | Total operating expenses | 539,908 | 435,697 | | **Net operating income** | **493,867** | **87,829** | | Profit for the period | 430,300 | 80,243 | | **Basic and diluted earnings per share** | **$1.93** | **$0.39** | [Condensed Consolidated Statements of Financial Position](index=19&type=section&id=Condensed%20Consolidated%20Statements%20of%20Financial%20Position) As of June 30, 2023, Frontline's total assets slightly decreased to $4.70 billion, while total equity increased to $2.30 billion Consolidated Financial Position | (in thousands of USD) | June 30, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | **Total assets** | **4,701,735** | **4,768,443** | | Total current assets | 897,575 | 881,050 | | Vessels and equipment | 3,622,364 | 3,650,652 | | **Total liabilities** | **2,405,448** | **2,508,544** | | Short-term debt | 362,547 | 277,854 | | Long-term debt | 1,932,610 | 2,112,460 | | **Total equity** | **2,296,287** | **2,259,899** | [Condensed Consolidated Statements of Cash Flows](index=21&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities surged to $553.2 million in H1 2023, with significant financing outflows for dividends and debt repayments Consolidated Cash Flows (Six months ended June 30) | (in thousands of USD) | 2023 | 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | 553,154 | 91,736 | | Net cash used in investing activities | (9,152) | (89,603) | | Net cash provided by (used in) financing activities | (491,704) | 4,605 | | **Net change in cash and cash equivalents** | **52,298** | **6,738** | | Cash and cash equivalents at end of period | 306,823 | 119,811 | Notes to the Unaudited Condensed Consolidated Interim Financial Statements [Note 2: Use of Judgements and Estimates](index=23&type=section&id=Note%202.%20Use%20of%20Judgements%20and%20Estimates) Effective January 1, 2023, the company revised vessel useful life from 25 to 20 years, increasing depreciation expense - Effective January 1, 2023, the Company revised the estimated useful life of its vessels from **25 years to 20 years**[97](index=97&type=chunk) - This change was driven by stricter charterer age requirements and increased environmental focus, favoring vessels under 20 years[97](index=97&type=chunk) - The change increased depreciation expense by approximately **$29.3 million** in the six months ended June 30, 2023[97](index=97&type=chunk) [Note 6: Marketable Securities](index=25&type=section&id=Note%206.%20Marketable%20Securities) As of June 30, 2023, marketable securities totaled $212.3 million, primarily Euronav shares, with an unrealized loss offset by dividends - As of June 30, 2023, the Company held **13,664,613 shares in Euronav**[112](index=112&type=chunk) - In H1 2023, the Company recognized an unrealized loss of **$24.9 million** on Euronav shares and received **$25.0 million** in dividends[112](index=112&type=chunk) [Note 9: Interest Bearing Loans and Borrowings](index=27&type=section&id=Note%209.%20Interest%20Bearing%20Loans%20and%20Borrowings) Total debt decreased to $2.295 billion as of June 30, 2023, following new drawdowns, significant repayments, and a LIBOR to SOFR transition Debt Movement (H1 2023) | (in thousands of USD) | Dec 31, 2022 | Proceeds | Repayments | June 30, 2023 | | :--- | :--- | :--- | :--- | :--- | | **Total debt** | **2,390,314** | **259,375** | **(356,625)** | **2,295,157** | - In H1 2023, the company drew down **$130.0 million** for two new VLCCs and **$129.4 million** to refinance an existing facility[119](index=119&type=chunk)[120](index=120&type=chunk)[121](index=121&type=chunk) - The company repaid **$134.4 million** of its **$275.0 million** senior unsecured credit facility with an affiliate of Hemen[122](index=122&type=chunk) - The company was in compliance with all financial covenants in its loan agreements as of June 30, 2023[126](index=126&type=chunk) [Note 12: Commitments and Contingencies](index=34&type=section&id=Note%2012.%20Commitments%20and%20Contingencies) Frontline has no remaining newbuilding commitments, a $47.8 million bunker purchase commitment, and ongoing arbitration with Euronav - The Company has no remaining vessels in its newbuilding program and no further commitments as of June 30, 2023[153](index=153&type=chunk) - The company is engaged in arbitration proceedings with Euronav regarding the termination of their combination agreement, maintaining its lawful decision[154](index=154&type=chunk)[155](index=155&type=chunk) - The company has a commitment to purchase bunker fuel from TFG Marine for a total of **$47.8 million** through December 2024[152](index=152&type=chunk) [Note 13: Subsequent Events](index=34&type=section&id=Note%2013.%20Subsequent%20Events) In August 2023, the Board declared a cash dividend of $0.80 per share for the second quarter of 2023 - In August 2023, the Board of Directors declared a dividend of **$0.80 per share** for the second quarter of 2023[156](index=156&type=chunk) [Cautionary Statement Regarding Forward-Looking Statements](index=14&type=section&id=CAUTIONARY%20STATEMENT%20REGARDING%20FORWARD-LOOKING%20STATEMENTS) This report contains forward-looking statements subject to significant uncertainties and risks beyond the company's control - The report contains forward-looking statements based on management's current views and assumptions, subject to significant uncertainties[75](index=75&type=chunk)[76](index=76&type=chunk)[77](index=77&type=chunk) - Key risk factors include world economic strength, charter rate fluctuations, oil production changes, financing availability, and geopolitical events[78](index=78&type=chunk)[79](index=79&type=chunk)

Frontline plc (NYSE:FRO) Q2 2023 Results Conference Call August 24, 2023 9:00 AM ET Company Participants Lars Barstad - CEO Inger Klemp - CFO Conference Call Participants Jon Chappell - Evercore Chris Robertson - Deutsche Bank Omar Nokta - Jefferies Chris Tsung - Webber Research Operator Good day and thank you for standing by. Welcome to the Second Quarter 2023 Frontline plc Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] Please be advised that today's conf ...